Sign In
1 Oct 2010 15:36
Accident Exchange Group Plc
(the "Company")
Result of General Meeting, refinancing timetable and
notification of change of accounting reference date
Result of General Meeting
A General Meeting of the Company was held at 3:00pm today at which the only item of business was a resolution to approve the proposed cancellation of both the listing of the Company's Ordinary Shares of 5 pence each to the Official List and to admission to trading on the London Stock Exchange's market for listed securities (the "Resolution"). The Resolution was duly passed as a special resolution.
The voting on the Resolution put to the meeting was carried on a show of hands. The proxy votes lodged in advance of the General Meeting were as follows:
|
In Favour |
Against |
Withheld |
Total no. of shares in respect of which proxies were validly made |
||
|
No. of Votes |
% |
No. of Votes |
% |
No. of Votes |
|
|
35,641,832 |
99.93 |
26,520 |
0.07 |
5,562 |
35,673,914 |
In accordance with Provision D.2.2 of the Combined Code on Corporate Governance, information in respect of the proxy voting received for the Resolution will also be made available on the Investor Relations section of the company's website (www.accidentexchange.com) in due course.
As required by Listing Rule 9.6.2R, a copy of the Resolution has been submitted to the National Storage Mechanism (formerly the Document Viewing Facility at the Financial Services Authority) and will shortly be available for inspection at http://www.hemscott.com/nsm.do.
Cancellation of listing
Accordingly, the Company has applied to the FSA and to the London Stock Exchange for cancellation of admission of the Company's ordinary shares to the Official List and to trading on the London Stock Exchange.
Cancellation will therefore take effect from 7.00am on 1 November 2010.
Refinancing timetable
As announced on 1 September 2010, the Company will be convening a second general meeting containing details of the proposed conversion terms of the Company's £50.0 million 5.50% convertible loan notes ("CLNs") when they have been agreed. At that general meeting, the Company will be seeking shareholder approval to the issue of an increased number of new Ordinary Shares to effect the conversion of the CLNs.
It is anticipated that notice of this general meeting will be sent to shareholders shortly after 1 November 2010.
Change of Accounting Deference Date
As part the Company's overall refinancing proposals, the Board has resolved to change the Company's accounting reference date to 30 October and has today filed the necessary notice with the Registrar of Companies.
ENDS
CONTACTS:
|
Accident Exchange Group Plc |
|
|
Steve Evans, Chief Executive |
08703 009 781 |
|
Martin Andrews, Group Finance Director |
08703 009 781 |
|
|
|
|
Singer Capital Markets Limited |
|
|
Shaun Dobson, Joint Head of Corporate Finance |
020 3205 7500 |
|
|
|
|
Bankside |
|
|
Simon Bloomfield |
020 7367 8888 |
Follow the stocks
